LaserCard Corporation Receives $2.8 Million Order for Costa Rica Foreign Resident Cards
Optical Security Media ID Cards Bolster Border Security
Mountain View, Calif., Sep. 16, 2010–LaserCard Corporation (NASDAQ:LCRD), a leading provider of secure ID solutions, has received a follow-on purchase order valued at approximately $2.8 million to supply Costa Rica’s Immigration Authority with Foreign Resident Cards. The credentials feature LaserCard’s optical security media, the same technology at the heart of the U.S. “Green Card.” Delivery of cards is expected to be completed by the end of December 2010.
“We are pleased to see this regionally important border security program continue to expand,” said Robert DeVincenzi, President and CEO of LaserCard. “The Costa Rican government has shown leadership in its application of advanced, secure credential technology to the challenge of controlling illegal immigration.”
LaserCard’s advanced ID credentials are trusted by governments worldwide in a variety of ID card programs, including citizen ID, foreign resident ID, student ID, government employee ID, vehicle registration and driver licenses.
About LaserCard Corporation
LaserCard Corporation, together with its subsidiaries, is a leading provider of secure ID solutions to governments and commercial clients worldwide. It develops, manufactures, and integrates LaserCard® optical security media cards, multi-technology cards, encoders, peripherals, smart and specialty cards, biometrics, and modular software. The Company’s cards and systems are used in various applications, including citizen identification, border security, government service delivery and facility access.
For further information, please visit http://www.lasercard.com.
All statements contained in this press release that are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are not historical facts or guarantees of future performance or events. Rather, they are based on current expectations, estimates, beliefs, assumptions, and goals and objectives and are subject to uncertainties that are difficult to predict. As a result, our actual results may differ materially from the statements made. Often such statements can be identified by their use of words such as may, will, intends, plans, believes, anticipates, visualizes, expects, and estimates. Examples of forward-looking statements in this release include the expected date of delivery under the purchase order and the implication that the entire order will be delivered and the $2.8 million recognized as revenue in future periods. This and other forward-looking statements in this press release are based upon our assumptions about and assessment of the future, which may or may not prove true, and involve a number of risks and uncertainties including, but not limited to whether the customer’s scheduled delivery dates are rescheduled or canceled in whole or in part, whether the customer continues to purchase products from the Company and whether the Company encounters card production difficulties as well as the risk factors detailed in the Company’s Form 10-K and 10-Q filings with the Securities and Exchange Commission under the caption “Risk Factors” and elsewhere in such reports. Due to these and other risks, future actual results could differ materially from the Company’s expectations. These forward-looking statements speak only as to the date of this release, and, except as required by law, the Company undertakes no obligation to publicly release updates or revisions to these statements whether as a result of new information, future events, or otherwise.
Steven G. Larson, VP-Finance